October 21 – Paramount’s new CEO, David Ellison, has entered the corporation with a sharpened scalpel, and is preparing to axe between 2,000 and 3,000 employees in the United States as part of a sweeping $2 billion cost-cutting plan. Hollywood Bible Variety described the move as “a broad across-the-board culling,” leading many to fear for the future of football on the CBS Sports platform.
CBS Sports currently streams the UEFA Champions League, and the wildly popular Champions League Show, as well as the Europa League, and the Europa Conference League. alongside the National Women’s Soccer League (NWSL), Serie A, the English Football League, and CONCACAF competitions.
This eclectic line-up has made Paramount+ a go-to destination for football fans throughout the United States.
Paramount currently employs around 18,600 people worldwide, meaning the layoffs could impact as much as 15% of its workforce.
Ellison, the son of Oracle co-founder Larry Ellison, has big plans in the LIVE sporting world, having just secured the rights to the Ultimate Fighting Championship (UFC) for $1.1 billion, along with a $60 billion bid for Warner Bros.
But football fans are worried the coverage of their sport will be impacted in terms of quality and depth. The pink slips are rumoured to start flying as early as October 27. Whether Paramount’s prized football rights remain untouched could define the next chapter of Ellison’s reign.